A Wall Street Genius's Final Investment Playbook-Chapter 148

‘What exactly is he trying to talk about?’

Although I found White Shark’s proposal intriguing, my schedule was already packed.

I glanced at the masterpiece on my wrist once more before speaking.

“I have a session I must attend in 30 minutes. Would that be alright with you?"

However, upon hearing this, White Shark simply nodded and responded.

“That should be enough time. How about taking a walk to get some fresh air?”

This meant… he wanted to talk to me somewhere away from prying eyes and ears.

I tilted my head slightly in agreement, and we began walking together.

Once we stepped outside and reached a secluded garden, White Shark spoke.

“I heard you’ve entered the world of activism.”

“Yes, that’s correct.”

“This field will be overwhelmingly unfavorable for you. Why choose such a difficult path?”

His point was valid.

Activist hedge funds operated by directly intervening in corporate management.

But conservative executives and investors were unlikely to take business advice seriously from a young man in his twenties.

I pulled out my prepared answer.

“Because I judged it to be the most effective means of changing the world.”

Due to the BLM movement and the Theranos exposé, the image imposed upon me was that of a ‘righteous and moral young activist.’

So, this was a plausible reason I could put forward.

However, upon hearing my words, White Shark’s lips curled into a cynical smile.

“You’re not just after money—you want influence as well.”

Sharp guy.

I had wrapped my reasoning up nicely, but the real reason I had chosen the difficult path of activism was exactly that.

‘Activist hedge funds hold the greatest influence and power in this field.’

And more than anything, what I needed most was that power.

My ultimate goal wasn’t just to accumulate wealth—it was drug development.

Developing a treatment required not only massive funds but also a multitude of other elements.

Strategic partnerships with other pharmaceutical companies and lobbying power to shake up FDA policies, for instance.

To achieve this, an activist hedge fund could wield far greater influence than a typical hedge fund.

Controlling and shaking multiple companies would allow me to bring my grand vision to life.

“You’re quite an ambitious young man.”

White Shark’s gaze sharpened.

Since he didn’t know my true goal, he must have assumed I was simply power-hungry.

I neither confirmed nor denied his words and instead glanced at my wrist, urging him forward.

“Is that all you wanted to say?”

“No, this was just a matter of curiosity.”

A subtle smile formed on his lips.

Then, he got to the main point.

“I have a proposal for you.”

I stared at him intently, caught off guard by the unexpected turn of events.

And then, White Shark said something surprising.

“If you’re venturing into activism, there’s a chance that you and I will come into conflict someday.”

Well, that was only natural.

Activist investors typically targeted companies with management issues.

Depending on the circumstances, our targets could overlap.

“Before such a clash happens, how about sounding the horn?”

“The horn…?”

The meaning behind his words was clear.

“You’re asking me to notify you in advance when I pick a target.”

He was requesting that I inform him beforehand about the companies I intended to attack.

At my words, White Shark gave a faint smile.

“That wouldn’t be a bad deal for you either. If we share targets, we can coordinate strategies in advance—or even form an alliance if our interests align.”

In activism, it wasn’t uncommon for funds to team up and strike simultaneously.

What he was suggesting was that if I disclosed my targets beforehand, he might consider forming such an alliance.

Of course, he wasn’t making this offer out of pure goodwill.

I suppressed the smirk tugging at my lips.

‘So, you don’t want to be blindsided again?’

In the Theranos case, he had been caught completely off guard.

He had been minding his own business when, out of nowhere, he was dragged into the whirlwind of public scrutiny and battered by public opinion.

Rather than getting caught in another unpredictable storm, he probably preferred to be warned in advance.

“What do you think?”

I pondered for a moment before answering carefully.

“That’s a difficult request. You’re asking me to leak my strategy before I make it public—that’s quite a risk.”

“As I said, it could benefit you too. More importantly, if you refuse…”

His voice suddenly dropped.

“You’d be making an unnecessary enemy.”

“That almost sounds like a threat.”

“In this industry, avoiding enemies is just as important as making friends.”

He wasn’t wrong.

If I had the choice, it would indeed be more advantageous to keep him as a potential ally rather than an enemy.

‘But still…’

I met his gaze and gave a subtle smile.

“I prefer carrots over sticks.”

Truthfully, giving advance notice of my targets wasn’t that big of a deal.

I just had no intention of doing it for free.

Noticing my implication, White Shark’s eyes gleamed with interest.

“Is there a particular ‘carrot’ you want?”

“If our interests align, I’d have no issue sharing information.”

‘Aligning interests.’

In the investment world, those words had only one meaning.

“You’re asking me to invest in you?”

“If that were the case, I’d have no hesitation in revealing my targets.”

Hedge funds could invest in one another.

If White Shark invested a significant amount in my fund, then the moment he leaked my information and caused me losses, he’d also have to bear the consequences.

By sharing the risk, there would be no reason not to share my targets.

However, after hearing my words, White Shark let out an incredulous chuckle.

“Do you think I have enough reason to go that far?”

I shrugged nonchalantly.

“I simply stated my terms. Whether you accept them or not is entirely up to you, Mr. Slater.”

I wasn’t the one at a disadvantage here.

“Even if our paths collide, even if we end up targeting the same companies, it won’t make much difference to me. I’ll just handle things my way.”

“Even so, you’d still prefer to avoid a direct confrontation with me, wouldn’t you?”

“Perhaps. But…”

I flashed a wise, knowing smile.

“There’s a saying in Korea: ‘One does not avoid dung because they fear it.’”

Yes, in a fight, strength alone wasn’t everything.

Sometimes, an opponent was just a bad matchup.

And to White Shark, I could very well become that kind of opponent.

The kind of ominous existence where things inexplicably go awry the moment you get involved.

In that sense, this was my own subtle form of threat.

Rather than getting entangled with me and suffering unpredictable consequences, wouldn’t it be easier to just invest in my fund and become my client?

“Well, it was just a suggestion. Take your time to think it over.”

With that, I glanced at my wrist once more.

Eight Minutes Left.

As I was about to wrap up the conversation, White Shark smirked.

“You must really want to attend that session.”

“I just dislike breaking my schedule.”

And then—

“Don’t tell me….”

White Shark hesitated for a moment before suddenly pulling out the summit’s guidebook from his inner pocket, flipping through the pages roughly.

Rustle, rustle!

Thud!

His hand stopped.

Then, his eyes widened in shock.

White Shark turned his gaze toward me.

“The target… wasn’t me?”

“I’m not sure what you mean.”

“The one you’re aiming for—is it someone else?”

White Shark held the booklet out in front of me.

There, the session I was about to attend was clearly listed, along with the name of the speaker leading it.

“You’ve been saying incomprehensible things for a while now.”

I kept my expression as neutral as possible, but internally, I was startled.

All I had done was check my watch a few times, yet he had deduced my target from that alone.

‘As expected, White Shark is still White Shark.’

I had to acknowledge his sharpness.

But knowing my target wouldn’t change anything, so it didn’t really matter.

As he had pointed out earlier, my youth was a severe handicap in the world of activist hedge funds.

Of course, I had a plan to overcome that obstacle.

‘By toppling an established giant.’

For instance, White Shark’s Shark Capital was ranked among the top ten activist hedge funds.

But what if I publicly defeated White Shark?

I would instantly push him down and claim a spot within the top ten myself.

White Shark had probably suspected from the start that I was targeting him, which was why he had pulled me aside to probe me.

But now, he had realized the truth.

The ‘established giant’ I was aiming to take down—wasn’t him.

“I knew you were crazy, but you’re far more insane than I imagined.”

His voice now carried a mix of astonishment and disdain.

I met his gaze and countered,

“You don’t avoid a madman out of fear, either.”

Then, looking straight into his eyes, I continued.

“If you’re interested in investing, feel free to reach out.”

“Hah!”

White Shark let out a dry laugh, then made a face as if he was utterly disgusted.

As if he didn’t even want to associate with me, he spun on his heel and walked away briskly.

I watched his retreating figure for a moment before quickly heading toward my destination.

I was bound for the conference hall.

At the entrance, the name of the next session and its speaker were displayed.

“Discovering Hidden Value: Creating Alpha through Activism – William Ackman”

William Ackman.

He was my next target.

***

[Successful activist investing goes beyond merely generating profits. It corrects market distortions and fosters a fair competitive environment…]

The presence of the man on stage was overwhelming.

‘So this is William Ackman….’

He was one of Wall Street’s superstars.

I took in every detail of him standing on that stage.

The subtle tremors in his movements, the inflections in his speech, the unconscious habits in his posture.

All of it would become valuable clues later on.

‘His charisma is undeniable.’

Despite his white hair, his face looked youthful—so much so that he could pass for someone in his twenties.

Moreover, there was an aristocratic aura subtly emanating from him.

Ackman, widely recognized even beyond the financial world.

His unique appearance likely played a role in his mass appeal.

But his true strength wasn’t just in his looks.

The reason he reigned as one of Wall Street’s top figures was simple—his track record.

Ackman was renowned for his audacious activist strategies.

Not just for making investments, but for spearheading revolutionary changes that shook companies to their core.

[…One example is the case of the Canadian railway. The key issue at the time was corporate governance. Cost reduction and operational efficiency were crucial, yet the management refused to acknowledge it…]

As he mentioned, one of his legendary achievements was the battle with the Canadian railway company.

Ackman boldly acquired 14% of the company’s shares and then replaced the entire executive team and board of directors, initiating a massive reform.

The results were astonishing.

The stock price, which had stagnated at $40, soared beyond $200.

Ackman walked away with an astronomical profit of $3 billion.

At the time, his annual return was 45%, leaving the S&P 500’s 12.1% return in the dust.

[Burger Kings was another example…]

That, too, was one of his most spectacular achievements.

Ackman secured a 29% stake in the fast-food chain, leading aggressive expansions, bold brand overhauls, and strategic mergers, ultimately tripling the stock price.

If you had to list the most famous activist hedge fund managers, Ackman would undoubtedly be in the top five.

Meaning, in rankings, he was about fifth place.

In other words, if I publicly took him down, I—a complete newcomer—would knock out a top-five fund and take his place.

‘Now that would be a real firestarter.’

The moment I challenged Ackman, every investor’s attention would lock onto me.

What’s the most entertaining spectacle in the world?

A fight.

Now, imagine:

A brand-new hedge fund challenges a top-five titan.

Then, the newcomer wins.

And on top of that, they generate insane profits.

With that kind of spectacle, who would care about the $1.4 billion lost to Castleman’s disease drug research?

Ackman was the perfect firestarter.

But my decision to target him wasn’t just about making a spectacle.

There was a deeper strategy behind it.

‘One spark isn’t enough.’

To ignite a Theranos-level blaze, I needed more than just a firestarter.

And conveniently, around Ackman, several unlit sparks were lurking.

Not just one—there were four more.

In my previous life, these sparks had ignited separately over the course of a few years, causing plenty of chaos.

But what if I gathered all those sparks myself—and doused them in gasoline?

That was my plan.

‘But it won’t be easy.’

Nothing in life ever unfolds exactly as planned.

To execute things the way I envisioned, I would need to anticipate numerous variables and time my moves with precision.

There were many hurdles to overcome…

‘But the rewards would be immense.’

[We will now proceed to the Q&A session.]

The moderator’s voice rang through the conference hall.

Before I knew it, Ackman’s session had ended, and the event had shifted to the Q&A segment.

Hands shot up across the room in an instant.

Everyone was eager to seize the opportunity to glimpse the wisdom of a superstar.

Though my intentions were different, I, too, smiled quietly and slowly raised my hand.

‘Might as well say hello first.’

After all, we were likely in for quite a long relationship.